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a possible recession if the deal on taxes is not reached. investors continued to worry if the u.s. will avoid the dreaded fiscal cliff, let's not point out the most previous minutes. plus retail cannot escape hurricane sandy. sending sales numbers down about 1%. a 4% rise in profits, jumping as much as 32% right now. staples looking good after having higher on all kinds of news. check out what else is soaring today. finally getting an earnings report that people like better-than-expected earnings after the bell yesterday, expected optimistic guidance. the chairman and ceo, 24 hours since those numbers came out, we will ask him if he investors should be expecting more numbers like today and what does he think about the fiscal cliff. what ideas does he have the president right now. and why we dropped 50 points farther from where we were already. down about 78 points, fell 122 down, now it does not look good. why? >> why? i thought maybe you would say something positive. i think we are just dealing with the aftermath of the election. this is not unexpected. it is the same old rhetoric, the same
five days before the election. for the latest details on our attempts to shoot down a u.s. truck or international waters to return to fox his national security correspondent jennifer griffin for report. >> aa 4:50 a.m., days before the u.s. president's election, to iranian fu25 fighter jets like these intercepted and fired twice upon an unmanned, unarmed u.s. m-2 one predator drawn of the persian gulf. the first time they have ever fired on a u.s. drone. the shots missed some of the thames, and iranian fighter pilots briefly pursued the drone which landed safely at an undisclosed location. >> it occurred over international waters approximately 16 nautical miles off the coastline. the aircraft was never in iranian airspace. it was always flying in international airspace. the international recognizes territorial limit is 12 nautical miles off the coast, and we never entered the 12 nautical mile limit. >> asked whether the incident was an act of war, the pentagon spokesman said he would not legally label it, adding the state department had protested through the swiss protective powe
and higher after hours. u.s. weekly jobless claims fell more than expected dropping to a seasonally adjusted 355,000, a drop of 8,000 claims as a possible sign of a healing job market although officials are warning figures may be distorted by superstorm sandy. the four week average applications rose by more than 3,000 of these numbers, change from week to week. liz: let's get a greater perspective. we have jerry levy on the pits of the cme, eugene profits and mark martyak, robert gray at the ready to break in with earnings as soon as they hit the table but let's start with jerrod at the cme. we blew through the 1400, 1440 level on the s&p like this. what do you think? tomorrow and the next couple weeks? >> of paper for we are standing on. a lot of folks watching the 1380 level. i'm watching the 2 and the day moving average of 1360. i jumped in front of the frame. i was selling to avalanche david talked about the vix coming in and markets deteriorated. the reason is people like me to dip their toes in, professional option traders selling downside money put them the right to buy -- dave: i wan
it all down. >>> wall street may have the blues u.s. debt is mounting and tax hikes could be around corner. but screw the inevitable. there are still plenty of ways to make money. we'll tell you exactly how to keep raking it in. >>> the "oracle of omaha" make as new gamble. where warren buffett sees the next cash cow and how you can follow in his footsteps. even when they say it's not it is still always about money. melissa: all right, first let's take a look at the day's market headlines. stocks tumble yet again following the worst seion of the year yesterday despite better than eepected u.s. jobless claims and u.s. export data. rising concerns over the fiscal cliff shook investors yet again the dow closed down 121 points. >>> disney shares are sliding after-hours the company reported fiscal fourth quarter earnings a short time ago. disney coming in a little light on revenue while meeting profit expectations. >>> shares of whole foods took a nearly 6% hit. the company warned superstorm sandy is taking a bite out of sales and will hurt earnings. >>> to our top story. check out this
's losses. now, on the upside, we've got a stronger u.s. currency. the u.s. dollar muscling higher, finding firmer footing and hitting a two-month high against the euro today. but the price of oil in part because of the stronger dollar -- stronger dollar is lower. crude oil dropping today after the energy information administration reported a bigger than expected build in crude supplies. we get it every wednesday. that was of course for the last week, plus european central bank president's draghi negative comments about the euro zone economy, all of this weighing on oil. we see oil moving to the down side. speaking of europe, take a look at this video right now. came in a few minutes ago. more than 80,000 greek protesters outside of parliament turning violent ahead of the austerity vote to avoid financial disaster. we have had reports of fires burning, smoke as we're seeing the sun go down at this point, not going to be a good night there in greece. we are keeping our eye on that very fluid situation. protests, elections, hurricanes, nor'easters. okay, is lightning striking me here? we have
gerri willis. the u.s. dangling over the fiscal cliff. washington can't get its act together. speaker boehner challenging president obama to lead us. his first comments on the economy sense reelection, he seems emboldened by his reelection. with more on this, chris stirewalt. it is great to have you here. i want to start by talking about what the president had to say today. he seemed pretty firm on what he said so far about what we need to do with taxes in this country. here is the president. >> i am open to compromise. i am open to new ideas. i am committed to solving our fiscal challenges. but i refuse to accept any approach that is not balanced. i am not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000 are not asked to pay a dime more in taxes. [applause] gerri: chris, jay carney comes out a few minutes later and he says, well, the president says he will raise taxes on wealthy. so where is the compromise? >> the hope is that the compromise lies in a broader reform. but as you know, this comes down
are scaling back their investment plans. according to "the wall street journal", u.s. companies are cutting their spending plans in the fiscal and economic uncertainty, and doing so at the fastest pace in the a recession. it goes on to say that companies are not planning to spend this year or next year. i am joined by jeffrey miron. welcome back to the show, jeffrey. good to see you. i want to start with some breaking news that we had. moody's just announced that they are cutting france's government rating to aa from triple-a. the s&p data back did it back in january. of course, we mentioned last week that the eurozone is in recession. economies that are expanding and not contracting. is this a winning post for people in this country who can't seem to get our spending under control? >> i think it should be a warning. the entire situation should be a wake-up call. but even in europe, they are not recognized in the wake-up call. they are not doing all they could do to turn themselves away from being someone like greece. they have to cut the spending. gerri: they don't want to hear the bad new
the election rattling investors in the u.s. europe moving to the front burner once again. we talked about this yesterday being the cause of all this volatility in the u.s. market. warning the economic slowdown hitting germany, the euro's own partisan healthiest economy. investors wait for a vote on another unpopular austerity package,,deep spending cuts so they can get the next round of eight. the measures are expected to pass by a narrow marrin. already showing their anger, all shut down for a second day. police using tear gas against the demonstrators. tracy: and clearly we are seeing that the market. rolling over when the market closed. part of it is down. now that the election day has ds come and gone and the government rings virtually unchanged, congress should be able to work with differences. peter barnes has brought himself back to washington. it is like dÉjÀ vu all over again, isn't it? >> yeah. we just heard from democratic leader harry reid in a press conference in the last hour. he was sounding conciliatory kind of. >> everything within my power to be as conciliatory as poss
. unbelievable. where should you put your money to work? you say this not here at home, it is by the u.s. >> mention a couple of stocks, disney and apple. no reason to pick through the rubble. the s&p 500 stocks are fairly priced. look at the u.s. as a whole, are looking to eke out 2.5% gdp. if you look at the emerging market for the last year and a half they have significantly underperformed the s&p 500, valuation is cheaper than the s&p 500 and if you look at a place like india, that is investors dream. the median age over 25 compared to 37, 38 for the u.s. growth rate coming in around 7% over there, the emerging middle class going from 100 million to 600 million by 2025. just investing in $2 billion in united spirits, that is a consumer you want to tap into, plenty of opportunity for long-term growth, much cheaper multiple than what you are finding on the shore. david: ticker symbols, epi, and china broad-based. it is great to see you. very good advice, thank you very much. >> thank you both. sandra: would have a top strategist that says the gold craze is on the way and the best way t
it in nine years. >> more economists coming around the u.s. economy in recession. economists looking at recession and that is the key, lackluster growth. reports making rounds on wall street, indicating we could see more slowing around the bend, with more on what they're hearing here is a liz macdonald with the bottom line. if you listen to these economists everyone is resetting their expectations. >> seeing four of ten, only 4 of 10 have been their sales estimates. that is not a good number. and other data from the same louis fed, very controversial study. they are -- their preliminary data is flashing fire engine red alarms and a recession is around the corner. the second or third quarter, a third of the gdp growth came from government spending on things like defense the we're seeing 227 stocks in correction mode, apple, google and microsoft and we are seeing a big indicator cutting signals, the number of companies that are cutting -- we are seeing a big tax increase of obamacare, in the fiscal cliff, but when you look at data from the s&p you see the u.s. economy entering recessio
the mosque. that is considered a terrorist organization by the u.s. government, of course. >> i want to thank president morsi for his leadership in ending the violent, this is a critical moment for the region. egypt a new government is assuming the responsibility and leadership that has long made this country a cornerstone of regional stabilitiy it peace. lou: the ceasefire hours after a bomb tow through a bus in israel's defense ministry in tel aviv, it injured at least 2 dozen people, hamas leaders praised the attack but did not take out right responsibility. a damascus based group with ties to the west bank took credit. the israeli government confirmed this is only the first stage of a ceasefire agreement work many questions remain stock answered. a second set of negotiations reportedly to begin within the next 24 hours, israel's blockade of the gaza border, and an end to the flow of arms in to gaza to be negotiated. but perhaps, a bigger question, did secretary of state, hillary clinton, simply rubber-stamp an agreement that has already been negotiated. we take all of this up here tonight
are talking about your sectors, what sectors do you believe are poised to profit? >> we think the u.s. economy, the u.s. consumer, they are collectively in better shape than the world has given us credit for. bottom up, we are focusing on fundamentals and valuations. there has already been a lot of talk. we like financial services, parts of financial services, and the ongoing transformation, really, the u.s. energy superpowers, is a fantastic long-term story. that is where we have found of late more opportunity than not. david: yu-dee chang, there is a technology shift or it a lot of people have been waiting for this. the old-timers have been replaced by the new kids on the block. as we shift to mobile devices, tremendous shift that is part of intel. you go for ibm, which is one of the old plays in technology. why are they poised to take advantage of this major tectonic shift? >> don't forget that ibm as recently as five or six months ago made a big play in selling corporate bonds. a two year note at a very low interest rate. 1%. they are taking these billion dollars to take advantage of this.
world war ii, to look at over the last 50 years the u.s. has been in recession 53% of the time. just the low altitude the economy is flying at the last two or three years leads us to believe the numbers are closer to 30% and that number is probably moving upwards in people's minds as we get closer to the cliff. liz: if we have faith our leaders will come up with a solution because it wants to be reelected again, don't you think now is a better time than later to get in because the market could do a moon shot and by then it could be too late trying to catch a rising star, harder than catching a falling knife, perhaps. >> i do believe there will be a resolution before christmas. what we need to focus on is it used to be seen as an act of statesmanship across the aisle and now to move the country forward is seen now as a betrayal. investors are dollar cost averaging. you got it. we could move lower from here, that is possible. but you can't really tim time-to-market, don't know when they will come out with this deal. when they do the market should have higher from there. david: if taxes
on your immigration status and length of time in the u.s., you may be eligible for federal benefit programs and it goes through a long lit any and it is long and a lot of money. >> it is unfortunate. immigrants are treasures the arrival of each one makes us more american because it signifies. >> if they are here to work. >> absolutely. it is it the last thing you want to do is offer them hand out to come here. that insures that you get a lower quality person coming here. we want to attract those who want to come here and achieve. >> steve, that is it the problem. i would say the overwhelming number of immigrantsome here to work there are some that is drawn like in europe. offering the benefits. and they ca just for the befits. >> yeah, unfortunately john is right. most immigrants want to get ahead as lincoln put it and improve your on lot in life. this is about the citizenry and occupiants of the country, they want to subvert us and make us independent and that means votes for the center. we see what is happening in europe with they do that. >> rick, we have a list of all of those
mentioned the port of oaklandnd six percent of all u.s. goods. that is the union's point to cause disruption and hurt the economy. and i tell you, they have every right to strike but the employers have the rht to kick the ass to the curve. a job is a mutually agreeable trade. employers offering a job and if they don't like hit the brickings. >> do you think it is bador the economy over all. we are in a fiscal cliff and rough waters here and now this to deal with? >> i think it could be bad for the econy. they have the merchandise and this is not going to affect thanksgiving shopping season and christmas most likely. but look at history. 1948 we had five million workers on strike and it crippled the economy. the taft hartley act brought back the boom. that is it breaking of the unions and created the boom that eisenhower had. if these union heads go forward. this could hurt the economy. >> tracey, you made the point about the retailers, it could hurt the consumer spending as well the economy needs that right now. and economist looking to the holiday shopping season to get big numbers out. >>
sector is still on a capital strike. if barack obama wants strong growth in the u.s. economy, he's going to have to extend his hand to the private interests that he vilified so much of the last two years to get reelected. dagen: more spending temecula of the federal reserve sitting ready and waiting make in our money and spend it. >> federal spending for the last 25 years has been to a percentage gdp. brock obama wanted to be for 23 percent of about 24%. the only way you can afford to do that if he extracts revenue out of the private sector. there is a real dilemma at the center of what he wants to do, and that is why i think we will be looking at gridlock for a little while. connell: okay. dagen: as always, be well. connell: we talked about the dow today being down a little bit, but nothing like yesterday. traders are calling it an obama sell-off, but the thing is, the polls consistently showing the president and the lead going into the election. why wasn't all that price did? brian jacobson. what do you think? >> i think it was partially priced in. it was basically a dead heat going in
the key to u.s. energy independence. a new study says absolutely not. is the controversial outlook right? we'll drill down on that one. even when they say it's not it is always about money melissa: first let's take a look at the day's market headlines. stocks look exhausted after a week of fiscal cliff fueled volatility. the major indices swayed between positive and negative territory closing the day mixed. the dow eked out three points, three. while closing out the month of november down half a percent. >>> you know the global economy is in trouble when even taco bell and kfc have trouble making money, right? shares of their parent company yum! brands dove nearly 10% today. the company warned fourth quarter sales in china, their single best market, would likely slide. >>> u.s. consumer spending fell for the first time since may. the 0.2% decline in october partially being blamed on the impact of superstorm sandy. why not. >>> starting off tonight, taxes are the talk of the town and have been for daze. seems like much of the conversation is focused on the wealthy to get them to pay more.
the whole thing shakes out. we have a map of the whole country i think we can put up the pads across the u.s. we call them where with the fuel is divided into. i'm wondering if this will have a domino effect over time? the yellow on the right hand part of the screen that is pad one and who we're seeing impacted by this shortage right now. but i wonder is there a domino effect. could this start spilling over to the rest of the country as we steal fuel from other sources here on the east coast? >> oh absolutely, it certainly can. i have a retailer, gas station owner in pittsburgh market i was talking to yesterday and he is fully expecting this. look, commodities are very easy to follow from a price perspective. the commodities will go wherever the price is the highest. melissa: right. >> if you do have indeed a shortage of product and increased demand, and what's happening now, we have to keep in mind, the supply issue is what it is but the demand issue is still muted. melissa: right. >> so we don't have, roads are closed and so forth. so the demand is there. in weeks ahead demand will pick up
to war, the global impact will be felt here in the u.s. joining me now in a fox business exclusive is senior advisor to the mayor, thank you for being with us. i want to get right to it. a cease-fire is good news but what is your take on it? >> is quite interesting because since the cease-fire was signed, several rockets were launched after the cease-fire came into effect. things have been pretty quiet and we hope it continues this way. melissa: do you feel that they violated it already? >> i guess you could call it that. we are dealing with band of terrorists whose political ideologies to kill as many as thewecan. we have to take it with a grain of salt. we want the southern border to be peaceful and that is why we signed the cease-fire with them and we hope they stand up to the terms they agreed to. melissa: israel agreed to stop all hostilities and not target specific individuals. palestinians said they would stop against israel including rocket attacks and along the border. obviously this question about that, but does it seem fair to you? >> let's put it thisway. our goal is to
. markets had been torn between solid manufacturing we got here in the u.s. this morning, october durable goods orders, big gigantic items that are supposed to last more than three to five years, washing machines, that number came in ahead of expectations in october rising to five month high. if you include things like cars and trucks and then take out airplanes, out of the equation, that's what happened. we did get some relief for greece. finance ministers say yes to the next installment of loans essentially kicking the can down the road one more time, but for the moment the markets like it. a washington, a fly in the ointment, deal negotiations have stalled. senate majority leader reid says little progress is being made so the fiscal cliff remains a distinct possibility come january 1st, keeping some buyers on the side lines as well. that's what you see here. coming up, governors can't afford to stall. they have to balance their budget. day two of our governors on the edge, our series on how individual states are dealing with the budget mess. it is a fox business exclusive. delaware gov
in time? leader, more u.s. navy seals in hot water. fox news lis wiehl has the fox news lis wiehl has the shocking new details on theve l. but because of business people like you, things are beginning to get rolling. and regions is here to help. making it easier with the expertise and service to keep those wheels turning. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together. gerri: not only is the u.s. about to go over the fiscal cliff, it is about to hit the bt ceiling as well. if congress doesn't reach a debt deal, we could see a worldwide financial calamity. joining me now is peter. it's always good to see you. i just want to tell people, w have $16.2 trillion worth of debt. the debt ciling, 16.4 trillion. very little to go to reach the debt ceiling. do you think congress will extend the debt ceiling? >> the question is will the president let them. extending the debt ceiling is not that big of a deal. but the question is what price will the president juan? will he insist on a tax increase? if so, it's
gdp and we see around the world the trough is likely to be seen and corporate earnings and the u.s. are likely to be tracing out with a flat shape thinking we have come in through the slump in earnings so stick with the equity exposure. don't like to not to anticipate a big sell-off. lori: we have dividend payers with the crux of the interview with the company's moving up the payout date to avoid the likely tax is that the stock by? with an historic low interest rates? >> i think so. looking at the yield of a little more than 1.5% u.k. gilt variety of companies paying 3% or more. focus on the history of the track record of increasing their dividend and focus on those with buy recommendations. lori: do not be a big part of that is great. but look at the overall capital gains there will be fewer dollars invested or will the drama ago one slowdown because of that concern? with just fewer dollars in the market? will people hold theer cash? >> then they will lose more because they get zero% and will lose inflation. you don't sleep better at night to put your money and your mattress beca
's call of duty, heading up to capitol hill to broker a debt deal. dagen: u.s. embassy closed in cairo amid protests, of bid muhamed morsi's power grab. connell: can you hear me now syndrome, wireless carriers are ranked on their performance. we will have the worst and the best. dagen: stocks now lend every 15 minutes, nicole petallides at stock exchange with economic news this morning. is that what is giving the market a lift? nicole: we have a lot going on here. we have jobless claims for the second week, that is good news, you saw growth in economy and in the last few moments we moved higher and we are positive for the week. when you check it out and industrials we are up 44 points and most of those names on the dow are in the green, names like hewlett-packard and caterpillar and bank of america and united healthcare doing well. the fiscal cliff headline after headline continues to be in the forefront and on everybody's mind that this is what we are seeing, a decent market and the u.s. dollar being weaker today has been a factor in the strength we are seeing as well. connell: treasu
: they will pay in installments over five years but all criminal issues between the u.s. government and bp will be settled. it does not remove the issue of civil penalties which by their most extreme calculations could be $21 billion. i will read you a statement from bp where the chairman of the board said we believe this resolution is in the best interests of bp and its shareholders, it removes two significant legal risks and allows us to vigorously defend the company against the remaining civil claims. keep in mind that bp has booked $31 million in charges against -- because of the disaster in 2010. they will lead $3.58 billion as part of the settlement. they still face the civil possible fine from the environmental portion of the u.s. government over this, $4,300 per barrel, two hundred six million gallons was spilled. in english possibly $21 billion but they hope they can defend themselves against that. two bp employees could face manslaughter charges. dagen: that does surpass the record fine we previously sought by three times. $1.3 billion fine paid by pfizer in 2009 for marketing fr
on the deadly u.s. consulate attack in libya. we are learning he briefly addressed his affair all paula paula broadwell in his opening comments, but the two matters surrounding benghazi. air raids had sirens ringing in tel aviv. israel continuing its attacks on militant targets in gaza as israeli troops and tanks are masking the border of gaza signaling an invasion could be imminent. those are your headlines. back to lori and melissa. melissa: thank you so much. towards the end of an era as hostess asked for permission to close its operations for good. forever ending the likes of twinkies and wonder bread. joining us from the home of twinkies and illinois. it is a sad day. what a sad day. i love twinkies. >> a lot of people realize that they love twinkies. it is that for the consumers and the workers. some put in 30 years at this company. they have been talking about making millions of little snack cakes, but the company was taking too much from them. they were trying to lower their wages and take more and insurance contributions. the remaining workers who are inside now are cleaning out thei
of the president or representatives of the u.s. government. >> this is a woman who clearly would like to replace secretary of state hillary clinton in that job. no shrinking. she was perfectly able to defend herself. i'm sure she was speaking off the set of talking points. the question is, one of the many questions, did she know when she was speaking that there was contradictory and permission? lou: and it is -- i'm not sure that it is unfair to say that the president and his entire national security team, if you will, are hiding behind the skirts of ambassador rice. >> well, i think the president gave away the game here when he also said in his exasperation with senator mccain that susan rice did not know anything about what happened at benghazi, thus proving the brilliance of the white house strategy at the time their effort was to get past the election, to minimize what actually happened. but -- what better way than to send out susan rice who knows nothing? she can't possibly make a mistake. she can't possibly reveal information inadvertently? think of the risk of putting hillary clinton out
the europeans? think again. the proportion of greek men and attorneys working inside the book or some in the u.s. working that is what this election was about. people voting for free money, free benefits, health care in every pot. but it is not just the people who lost jobs in the recession who are hooked on government money. the total number of people getting government money is rising. in fact, most of what you suspect about entitlements may be wrong. if he think the proportion of people getting government benefits has been stable, think again. in 1983, less than 30 percent of us get government help. today 49 percent. if you think democrats a lot our's loss of four and seven the spending, no, and the last half century in thailand spending has grown faster under republican presidents and democratic plans. and if you think transfers are a small part of the government budget, wrong, wrong, wrong. take a look at this. less than one-third of the budget. today it is two-thirds of federal spending. that leaves just $1 out of everything the -- out of three, that is, for other things like defense spend
here in the u.s.? and what does that mean for us at the pump? this is what we care about in this whole greece thing. joining me, patrick dehaan, senior petroleum analyst from gasbuddy.com. what do you think about all this because it looks like oil prices are pretty darn weak for a number of reasons and that could be really good news for all of us? >> could be really good news and perhaps there is some bad news in there as well that is if oil prices go down, or if we go off this fiscal cliff, oil prices could collapse again. we could see a repeat of 2008-2009 recession where oil prices dropped to 50 bucks a barrel. lower gas prices certainly is good news but for all the wrong reasons. if greece doesn't get their country in order, if the e.u. doesn't get all their ducks in a row here we'll continue to feel it in oil prices. will it pull the u.s. down as well? that's the big question. lower oil prices are good for motorists but it is a sign of bad things to come. melissa: but, patrick, we're this is really clear at this point. we just talked about how, we're not going to solve this, that
of the u.s. means less usage of natural gas, particularly in the northern midwest and we were going to get snow tomorrow under an inch. david: and we are seeing weakness the department store stocks. macy's and nordstrom's underperforming in that particular sector. liz: how about some jewelry for the holidays. a rough year, but today it is making a huge push to get consumers to buy diamonds and fine jewelry. president and ceo harvey cantor here live to tell us what those deals are including a huge giveaway they're doing and how we are doing and what kind of a halo effect they're having on the giveaway. david: and economic advisors warning middle-class tax rates to rise and failing to catch could cause consumers to spend $200 million less than they normally would next year. coming up chairman of the president's council of economic advisors joining us to talk about the fiscal cliff and whether we will go over it. liz: do not miss it. but first what drove the market with today's data download. the nasdaq the only major index. still a pretty rough day on light volume. the dow and s&p ending low
will derail the biggest economic driver in the u.s. and that is biotech. mike milken talking about life-saving drugs, jobs that come with them and our status as the leader of the industry, all at stake if we go over the fiscal cliff. and dr. francis collins with the national institutes of health. fiscal cliff. folks including today to liz hy malcolmed the month of november and the red and nasdaq and s&p close slightly higher, consumer discretionary and industrials were this month's top performing sectors, utilities and energy lagged behind. oil posting its second straight day of gains closing the trading day up 1%, $80.91 for a barrel of oil and today's gains in crude up 3% for the month of november as concern over threats to supply due to mideast violence offset ongoing demand worries and personal spending, are you part of this, it sold for the first time in five months dropping 0.2%. the commerce department is a debating that to hurricanes and the lowering wages and salaries by an annual rate of $18.2 billion. dave: we may get a dividend bust in the month of december and discuss all o
in sight. one of those things we'll play chicken with the u.s. economy. we'll play chicken with the u.s. consumer and probably not get anything done. that is the uncertainty that looms over the market more than anything. melissa: here is the question people are asking me today, on election day, stocks are movng higher. it seemed pretty obvious during theay that barack obama was winning. what was the big change overnight? what was the hangover today? >> yeah. that was the goofy thing and that's why i think blaming barack obama's re-election today kind of a red herring. i don't know anybody would put capital at risk hoping romney to win having it get blasted today. this is realization we'll still not get anything done. romney coming into office, let's say he did win the problems don't go away because mitt romney steps into the oval office. the problems are still there. the business community not having confidence in the congress and administration to put forward a growth oriented environnt. higher taxes are not big of a deal if we're growing the economy. e economy is growing what, 1.5%? m
and unleashed that on your screen, the worst offshore oil spill in u.s. history. shares of bp moving slightly higher today but down 7% this year. let's check out gold, sliding to a one week low acting more like a commodity than a save haven in this volatile market. we talked to george euro on thursday and he said it is not be taking how you think it would for a couple reasons, number one being people don't have enough money to buy gold. when you hear that 60% of the s&p 500 companies are in correction territory i begin to wonder do any of our traders think this is a screaming buy for the markets or are they saying this is a past thing? traders at the stock exchange, cme group and nynex, john cortines, screaming buy or dipping your toe in or standing by? >> you got a special co-host on monday, myself, i am looking forward to that. , and i'm looking forward to the experience. the market does not have enough strength. and other trading days this session. the market runs out of steam. it is not so far today. investors look at this, they see red and the market down. this adds to the negative senti
. you can print real u.s. postage for all yo letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certified. international. and the mailmapicks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >> all right. today is back to workday in washington. president obama has his first big meeting on the fiscal cliff since his reelection. and who is he meeting with? union leaders and far left activists. we're scrolling their names on the side of the screen, but you can see richard trumka is there along with the heads of every major union, richard trumka who said this after the president's victory last week. >> it's strongly believed that we should make sure the wealthy should pay their fair share of taxes. they believe we should protect medicare and medicaid and social security benefits from cuts. and voters reject the idea that bringing down t
relations with the u.s. by closing the suez canal. >> i mean, you're very optimistic to think that this sort of instability in the neighborhood isn't going to spill over. i talked to people about this every day, and i got to tell you, you're alone. >> yes, you can build a model that has this all the way going out to let's say iran and closing the strait of hormuz, but this would take a real series of reactions, one after the other to imagine the supply of oil being reduced as a result of this. it's a very complex model to imagine that. >> do you think, john, perhaps we're not seeing a direct impact in the price of oil, in your view, because we are in supply of oil right now? >> i think the market is fundamentally very bearish right now. in the fourth quarter of this year, where you normally draw world inventories of crude, you are going to build world inventories of crude. right now all the models into next year show a build basically all yearlong. opec is going to meet i think in two three weeks in vienna. i think the idea this is going to be just a cake walk meeting is not necessarily true
minute. senators say they would not support a nomination for susan rice until questions on the u.s. consulate in libya are resolved. rice wrapped up her meeting with the three over her initial comment about the attack. pictures from egypt as opponents of president mohammed morsi continue to clash. they are railing against morsi that gives them absolute power. one person was killed after inhaling teal -- tear gas. it was quite a scene at the empire state building. the light feature more than 16 million colors. those are your news headlines on fox business network. back to connell. connell: thank you very much. it is not to jamie dimon and idea that he may be the next treasury secretary. that is well warren buffett seems to be hoping for. here is a quote from buffett. if we did run into problems and markets, i think, he would actually be the best person you could have in the job. world leaders would have confidence in him. i do not think anyone asked me about this. i think it is highly unlikely. what do you think? >> i think warren buffet is truly one of the great minds of our centur
's a 50% chance the u.s. goes over this cliff. enough to shake up the market, if that is what people are estimating. but chief investment strategist. up a little bit today. this whole idea of mixing politics and economics in the market and everything else, you have to try to put odds on this if you're an investor. are they going to come up with a deal. you think it is about right, or higher or lower than that? >> i think this is the problem. investors used to handicapping the economy, stocks, margins, it is very hard to second-guess what the people in washington are going to do. look at this uncertainty. what has come across is that they will eventually have a deal, but the risk going into the fiscal cliff are probably greater than the market has discounted. that is why you are seeing selling this week. connell: this interesting people got something wrong about the election this week. we had odds at minimum 60% or more. they came and shocked at the market sold off as if this is a big surprise the president was reelected. the market hadn't done a great job. it is now more of a guessin
in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus witinvestment information, risks, fees and expenses to read and consider carefully before investing. >> 21 minutes past the hour, this is your fox news minute. the lights are slowly coming back on the people affected by back-to-back storms the northeast, nearly all of connecticut businesses have electricity and food than 20,000 customers remain in the dark. new york long island has over 200,000 outages. a judge says a jetblue pilot that disrupted a flight can go free. the ruling comes a month after he was found not guilty by reason of insanity for his behavior on a flight from new york to las vegas. running through the plane millindoingabout religious and . negotiators are back at the bargaining table for a fourth straight day. trying to end a lockout that threatens the entir
changed the debate about u.s. tax reform for his call for the reach to pay more. calling for minimum tax rates for millionaires. are you kidding me? this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively paying lower tax rates than america's middle class families. the principle of this, of this rule is actually what's most important. the revenue that it raises, it is important because it is not chump change but it is not in of itself going to change our deficit conversation but the principle is one that is extremely important. liz: but you're talking about wealthier people. well thinker people pay a higher average tax rate. everybody pulls out the stat that
hi-revised reading of 73.1 in october o. and u.s. home prices climbing higher for the sixth month in a row. property values in 20 cities jumped 3% compared to one year ago, building on a 2% gain posted in august. liz: green mountain coffee roasters brewing up numbers, robert gray has the numbers. >> reporter: coming in better than expected, 946.7 million bucks, well ahead of the estimate, 902, and the nongap adjusted earnings number coming in, again, well ahead of expectations, 64 cents. thatts better than the 48 cents that were anticipated there. and they're talking up the sales of new platforms here as they're facing new competition from starbucks. a double beat, if you will, and you see the shares jumping in after hours. liz: yes, david was right, it has been hammered by the short sellers, particularly david einhorn who was famed for short selling lehman brothers. but, again, this is a company that has continued to try and come through here, new management changes, right, robert? >> reporter: yes, new ceo, and i just did a quick search, nary a mention of starbucks, remember, st
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